Fisher & Paykel Healthcare Corporation Limited (ASX: FPH)

Fisher & Paykel Healthcare Corporation Limited is engaged in designing, manufacturing, and marketing medical devices and systems used for acute and chronic respiratory care, surgery, and the treatment of obstructive sleep apnea. The current market capitalization as of 3 February 2023 stood at AUD 13.75 billion.

Technical Analysis: On the weekly chart, FPH prices are trading above the horizontal trendline support zone and taking support from the same. Moreover, the momentum oscillator RSI (14-period) is showing a reading of ~66.223 level, indicating positive momentum. Further, the prices are trading above the trend-following indicators 21- period SMA, which may act as support level. An important support level for the stock is placed at AUD 21.00 while the key resistance level is placed at AUD 28.40.

Considering the Company's current price levels and momentum oscillator analysis, it is prudent to recommend a 'Speculative Buy' rating on this stock. The stock was analyzed at the closing price of AUD 24.340 per share on 3 February 2023, up 2.484%.

Weekly Technical Chart – FPH

RAM Essential Services Property Fund (ASX: REP)

RAM Essential Services Property Fund is an Australian Real Estate Investment Trust listed on the ASX and will own a Portfolio of high-quality Australian medical and essential retail real estate assets leased to essential services tenants. The current market capitalization as of 3 February 2023 stood at AUD 416.86 million.

Technical Analysis: On the weekly chart, REP stock price witnessed a breakout of the falling trendline resistance zone at AUD 0.82 level on February 3, 2023, and prices are sustaining above the trendline. Moreover, the momentum oscillator RSI (14-period) is showing a reading of ~62.424 level. Further, the prices are trading above the trend-following indicators 21- period SMA, which may act as support zone. An important support level for the stock is placed at AUD 0.730 while the key resistance level is placed at AUD 1.00.

Considering the Company's current price levels trading above support zone, and momentum oscillator analysis, it is prudent to recommend a 'Speculative Buy' rating on this stock. The stock was analyzed at the closing price of AUD 0.850 per share on 3 February 2023, up 6.249%.

Weekly Technical Chart – REP

Markets are trading in a highly volatile zone currently due to certain macro-economic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

Note 2: Investment decision should be made depending on an individual’s appetite for upside potential, risks, and any previous holdings. This recommendation is purely based on technical analysis, and fundamental analysis has not been considered in this report.

Note 3: Related Risks: This report may be looked at from high-risk perspective and recommendations are provided are for a short duration. Recommendations provided in this report are solely based on technical parameters, and the fundamental performance of the stocks has not been considered in the decision-making process. Other factors which could impact the stock prices include market risks, regulatory risks, interest rates risks, currency risks, social and political instability risks etc.

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.

Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.

The Green colour line reflects the 21-period moving average. SMA helps to identify existing price trends. If the prices are trading above the 21-period, prices are currently in a bullish trend (Vice – Versa).

The Blue colour line reflects the 50-period moving average. SMA helps to identify existing price trends. If the prices are trading above the 50-period, prices are currently in a bullish trend (Vice – Versa).

The Orange/ Yellow colour line represents the Trendline.

The Purple colour line in the chart’s lower segment reflects the Relative Strength Index (14-Period), which indicates price momentum and signals momentum in trend. A reading of 70 or above suggests overbought status, while a reading of 30 or below suggests an oversold status.

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